When Churchill Downs Inc. bought the historic Fair Grounds in 2004, it seemed like a godsend for horse racing in New Orleans. The track's backside operations were primitive compared with its competitors. A $25 million legal judgment had led the previous owners, Bryan and Vickie Krantz, to file for bankruptcy protection the year before the sale. Quite simply, the place was in decline.

The new owners promised to reinvigorate the Fair Grounds. Tom Meeker, then Churchill Downs Inc.'s president and CEO, gushed about the track's future in Blood-Horse: "This is an exciting day for CDI, Fair Grounds, horsemen and racing fans across the country as we bring together a legendary racing company and the nation's third-oldest racetrack. Under our stewardship, we will work to renew Fair Grounds' legacy as one of the nation's top destinations for winter racing."

His company would reinvest in the facility and "deliver an outstanding live racing product," he said.

There was no reason to doubt him. Churchill Downs Inc. runs the Kentucky Derby and owns the legendary Louisville, Ky., track where the first leg of the Triple Crown is run. The company had a history of improving troubled racetracks.

And yet, a decade after the Fair Grounds changed hands, many people in New Orleans' racing community say Churchill Downs Inc. has been a poor steward.

They say the 142-year-old institution that is so dear to New Orleanians is deteriorating while its corporate owner shifts slot machine proceeds from the Fair Grounds to its Kentucky operations.

NOLA.com | The Times-Picayune reporters Katherine Terrell, Katherine Sayre and Jeff Duncan documented the problems in a special report that appeared over the past week online and in the newspaper. Purses have been cut twice at the Fair Grounds this season, and four stakes races were canceled. Only about half of the turf races that were scheduled have been run. An on-field TV screen has been broken for several years, leaving fans without a zoomed-in view of races.

Such neglect is unacceptable.

In Louisville, by contrast, a $9 million renovation included a new seating area called "The Mansion," and fans can watch every moment of race action on a $12 million high-definition TV the size of three basketball courts.

"Churchill Downs is similar to a slumlord," said Stanley Seelig, president of the Louisiana Horsemen's Benevolent and Protective Association, which represents owners and trainers. "They want to suck out all of the cash they can and send it back to Kentucky."

Churchill Downs officials point to recent renovations to the turf track and say a new drainage system is working better. And they argue that the racing pains being felt in New Orleans are part of a nationwide industry trend.

But the corporation is thriving financially. Churchill Downs Inc. reported record-setting net revenues for 2013 of $779.3 million, and its stock price is up dramatically. Slots revenue produced in New Orleans is helping fuel those trends.

In addition, other comparable tracks seem to be faring better than the Fair Grounds. Oaklawn Park in Hot Springs, Ark., for instance, has raised purses.

Louisiana lawmakers are looking for ways to prod the Fair Grounds' owners to reinvest in the New Orleans operation.

State Rep. Patrick Connick, R-Marrero, has introduced legislation to require 10 percent of slot machine revenues to be used to improve the Fair Grounds. Another bill would give the Racing Commission the power to use failure to maintain a turf course as a reason to suspend or revoke a track license.

"The turf races are always being scratched, and it's having an impact on the quality of the races," Rep. Connick said.

Churchill Downs officials argue that lawmakers shouldn't interfere in a private company's decisions. But they must have forgotten that the state gives track owners and other gambling operators special permission to operate and has regulatory oversight.

Despite the problems, the Fair Grounds' dirt track is a lure for top trainers. And the storied history of horse racing here should be a plus, if the facilities and the purses are enhanced.

Churchill Downs did make some improvements after it took over, including $4 million in renovations to living quarters for workers on the track's backside. But the owners' attention lately seems to be everywhere else but here, and especially on the home track for the Kentucky Derby.

It isn't surprising or unreasonable for the company to want to nurture its premier race at its premier track. But New Orleans shouldn't be stripped of resources and neglected in the process.

Horse racing took hold here more than 190 years ago. It has survived through war and a seven-year legislative ban on the sport in the early 20th century. Fair Grounds' races have been a Thanksgiving tradition for generations of New Orleanians.

Churchill Downs officials said they would honor that history and tradition, and the owners need to make good on those promises.